Stevenage Property Market Report, October 2026
With fixed mortgage rates close to 6 per cent, the monthly payment is now setting the pace of the Stevenage market.
Five in every six houses sold in Stevenage over the past year changed hands between £250,000 and £500,000, exactly the range where mortgage rate changes hit hardest. The average sale price across the town was £330,000, 2.7 per cent higher than the year before, across 921 sales.
The average two-year fixed mortgage is now 5.97 percent and the five-year 5.99 percent. On a £300,000 repayment mortgage over 25 years, the difference between 5 and 6 percent is roughly £180 a month, or more than £2,000 a year, for the same home. Buyers are doing those sums before they book a viewing.
For sellers, that makes the price band critical. Buyers search in bands, and their lender has already told them where theirs ends. A home priced at £352,000 is invisible to every buyer whose search stops at £350,000, which is why Putterills sets each Marketing Price with Rightmove's search bands in mind.
There is plenty of choice. Stevenage has 1,055 homes for sale, 89 percent more than the three-year average, and supply in the Old Town has more than doubled against its average. Yet only 37.6 percent of homes for sale have been reduced, and in the latest month homes sold at 103 percent of asking on Dataloft's estimate, with the Old Town stronger still. Most sellers are pricing where buyers can afford to be.
Locally, construction has started at Hazel Park, a 618-home neighborhood with a new primary school. Work is under way on the town's new £45 million leisure centre, and improvement works to the Old Town High Street are due to finish in early December. In this week's Budget, a new Your First Home scheme will help first-time buyers purchase new-build homes from spring 2027.
If you are thinking about selling in Stevenage or the Old Town, the Putterills Stevenage Old Town team would be pleased to arrange a free property marketing strategy consultation or valuation.
